The HodlHodl team announced that Lightning trades are available at their website. This development was made on 05 June.
HodlHodl commenced by headlining that users would be able to buy bitcoins and receive them directly into their Lightning wallet. The users are also benefited to sell bitcoins directly from their Lightning wallet. The P2P bitcoin exchange recently announced public testing of Lightning powered trades at their test portal. The testing itself had passed and the CEO had given a speech aimed at the implementation of contracts on the Lightning Network.
While emphasizing that regular transaction would not be different from that of HodlHodl –
“The only difference is that for the contract lifetime we hold funds in our Lightning wallet which protects both buyer and seller from scams, and the contracts become cheaper, faster & simpler. Lightning Network contracts will not affect regular Bitcoin on-chain multisig contracts on Hodl Hodl: those will still be fully non-custodial and we won’t have access to your funds.”
HodlHodl clarified that the implementation would not affect the rest of the platform. The regular bitcoin contracts used on the platform would still be independent. HodlHodl sustained by sharing a step by step process of buying and selling bitcoins in a peer-to-peer manner on the Lightning Network.
Recently, Localbitcoins deleted the payment method “Cash” from the platform, so in a bid to attract all cash traders to HodlHodl, there was an outreach made. HodlHodl also provided clarity over the advantages it provided compared to other P2P exchanges.
In March, Zebpay, a Malta-based leading Bitcoin and cryptocurrency exchange announced the launch of its Lightning Network integration. Zebpay conveyed that Zebpay customers from around the globe can use the Bitcoin (BTC) balance on their Zebpay wallet to make payments quickly on the Lightning Network. Zebpay conveyed that users could start using Lightning payments immediately by signing into their wallet and activating the Lightning tab.
HodlHodl wrapped up by indicating that since this was their first major release there was a possibility of minor bugs, although nothing critical. However, the basic functionality was ready. The exchange was already working on an improvement of the current implementation. In the coming weeks, HodlHodl would release an update. The fixes would be mostly be related to the user interface. HodlHodl extended outreach to the public for reporting bugs or sending proposals.